New Vehicle Sales Expected to Lift Slightly in Q1 Despite Affordability Challenges, According to Edmunds [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
Company Research
Source: Yahoo! Finance
forecast that 3,772,894 new cars and trucks will be sold in the U.S. in the first quarter of 2024, which will be a 6.0% increase from the first quarter of 2023 but a 3.1% decrease compared to the fourth quarter of 2023. “New car sales continued in the right direction in Q1, but given the notable rebound in new vehicle inventory, they arguably could have been a bit stronger,” said Jessica Caldwell, Edmunds' head of insights. “In this era of sky-high interest rates, affordability is the name of the game, and consumers are laser-focused on monthly payments. The automakers that can offer compelling vehicles at competitive price points will see the most success.” Edmunds analysts note that Honda and Toyota are two of the automakers rising to the top of car shoppers' lists in the current market, with the largest expected lifts in market share (see table below) and the fastest-selling vehicles in Q1. According to Edmunds data, days to turn (DTT)* for Honda and Toyota dropped to 22 days a
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